First page bid estimates in AdWords Editor
The first page bid estimate is the approximate maximum cost-per-click (CPC) bid it would take for your ad to reach the first page of Google search results when the search query matches your keyword exactly. The estimate is based on the Quality Score and current advertiser competition for the keyword. For new keywords, the AdWords system estimates the Quality Score and uses recent advertiser competition data to come up with the expected first page bid.
First page bid estimates can be found in AdWords Editor when you view your keywords, in the column labeled ‘First Page Bid Est.’